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Ways to Take Title

Community Property	Joint Tenancy With Right of Survivorship	Community Property w/Right Of Survivorship	Tenancy In Common
Requires a valid marriage between two persons	Parties need not bemarried; may be more than two joint tenants	Requires a valid marriage between two persons.	Parties need not be married; may be more than two tenants in common
Each spouse holds an undivided one-half interest in the estate.	Each joint tenant holds an equal and undivided interest in the estate, unity of interest.	Each spouse holds an undivided one-half interest in the estate.	Each tenant holds an undivided fractional Interest. Can be disproportionate, e.g.20% and 80%; 60% and 40%.
One spouse cannot partition the property by selling his or her interest.	One joint tenant can partition the property by selling his or her joint interest.	One spouse cannot partition the property byselling his or her interest.	Each tenant's share can be conveyed, mortgaged or devised to a third party.
Requires signatures of both spouses to conveyor encumber.	Requires signature of all joint tenants to convey orencumber the whole.	Requires signatures of both spouses to convey or encumber.	Requires signatures of all tenants to convey or encumber the whole.
Each spouse can devise(will) one-half of the community property.	Estate passes to surviving joint tenants outside of probate.	Estate passes to surviving joint tenants outside of probate.	Upon death the tenants proportionate share passes to his or her heirs by will or intestacy.
Upon death the estate of the descendent must be "cleared" through probate, affidavit oradjudication.	No court action required to "clear" title upon the death of joint tenant(s).	No court action required to "clear" title upon the first death.	Upon death the estate of the descendent must be "cleared" through probate, affidavit or adjudication.
Both halves of the community property are entitled to a "stepped up" tax basis as of the date of death.	Deceased tenant's share is entitled to a "stepped up" tax basis as of the date of the death.	Both halves of community property are entitled to a "stepped up" tax basis as of the date of the death.	Each share has its own tax basis.

Note: Arizona is a community property state. Property acquired by a husband and wife is presumed to be community property unless legally specified otherwise. Title may be held as "Sole and Separate." If a married person acquires title as sole and separate, his or her spouse must execute a disclaimer deed to avoid the presumption of community property. Parties may choose to hold title in the name of an entity, e.g. a corporation, a limited liability company, a partnership (general or limited), or a trust. Each method of taking title has certain significant legal and tax consequences, therefore, you are encouraged to obtain advice from an attorney or other qualified professional.